Weekly Review-Peas
22-Feb-2025 07:54 PM
Pea prices continue to rise
The weekly review of pea prices highlights a continued upward trend, primarily driven by sluggish selling from stockists and importers coupled with strong demand. Here are the key points from the update:
Bullish Market: Pea prices saw a rise due to a combination of weak selling by importers and better demand from buyers. As of this week, imported pea prices have increased by Rs 75/100 per quintal.
Import Uncertainty: The deadline for duty-free import of yellow peas is approaching (28th February 2025), but the government has yet to issue any notification, causing some uncertainty in the market about future imports.
Spot Market Stability: International spot prices for peas remain stable at $10–$10.50 per bushel (FOB), but there is a calm in export demand.
Price Rises in India:
- Kanpur: Prices of peas rose by Rs 50 per quintal, reaching Rs 4100 per quintal.
- Lalitpur: Prices saw an increase of Rs 150/200 per quintal, reaching Rs 3450/3700 per quintal.
- Mahoba: Prices increased by Rs 100 per quintal, reaching Rs 3000/3700 per quintal.
- Mauranipur: Prices also rose by Rs 100 per quintal, reaching Rs 3600/3700 per quintal.
- Madhya Pradesh: Prices in Damoh and Bina rose by Rs 100/150 per quintal, reaching Rs 3500/3600 and Rs 3300/3500 per quintal, respectively.
Dal Prices: The rise in pea prices has also been reflected in the price of pea dal, which increased by Rs 50/100 per quintal. The price for pea dal reached Rs 4350/4400 per quintal in Kanpur and Rs 4500/4600 per quintal in Indore.
The continued buying interest and the overall demand for peas in both domestic and international markets have supported the price increases.